Macau Urban Renewal Limited (MUR), a fully government-owned company tasked with the city’s urban renewal process, announced in a statement yesterday that its “home swap” housing project on Plot P in Areia Preta district – the plot of the ill-fated Pearl Horizon residential project, the land concession of which was annulled in early 2016 – will cost four billion patacas.
The statement also said that the construction of two towers of its temporary housing project on the plot – which comprises a total of eight towers – will cost 878.6 million patacas.
The government granted Macau Urban Renewal Limited in March the land concession of an area of 47,682 square metres on Plot P for the development of its “home swap” housing project and temporary housing project.
The government last year earmarked an area of 6,828 square metres, which is located at the southern tip of the 68,000-square-metre Plot P, for a high-rise rental housing project for senior citizens. The project carried out by China Construction Engineering (Macau) Company Limited got off the ground late last year.
According to an executive by Secretary for Transport and Public Works Raimundo do Rosário published in the Official Gazette (BO) in March, the 47,682-square-metre area of the land concession granted to Macau Urban Renewal Limited comprises three areas, namely Area A (21,888 square metres), Area B (6,537 square metres) and Area C (19,257 square metres).
According to March’s executive order, a “home swap” housing estate comprising six towers will be built on Area A, which will also include commercial facilities, a car park and swimming pools.
Area B will be a temporary housing estate comprising two towers, commercial facilities and a car park, while Area C will have two temporary housing estates comprising a total of six towers, commercial facilities, a car park and a public bus terminal, according to March’s executive order.
According to a MUR statement in March, six towers of a “home swap” housing estate will be built on Area A, providing 2,000 plots, which are earmarked for eligible Pearl Horizon pre-sale buyers to purchase. A total of eight temporary housing towers will be built on Areas B and C, providing 2,800 units, which are earmarked for residents affected by urban renewal projects to rent and live in temporarily during the redevelopment of their old homes, according to March’s MUR statement.
Yesterday’s MUR statement said that the urban renewal company has granted China Construction Engineering (Macau) Company Limited a 4.068-billion-pataca contract for the construction of the “home swap” housing project on Area A of Plot P.
The urban renewal company has granted a joint venture consisting of three construction companies an 878.6-million-pataca contract for the construction of the temporary housing project on Area B of Plot P, the statement said. The three companies are Coneer Engineering Limited, China Road and Bridge Corporation, and Top Design Consultants Company Limited.
The urban renewal company said earlier this year that it has launched two tenders for its temporary housing project on Area C.
Yesterday’s statement said that the urban renewal company will decide by the end of this month which two bidders will be granted construction contracts for the temporary housing project on Area C.
Yesterday’s statement also reaffirmed that the whole Plot P project – namely the “home swap” housing towers on Area A and the temporary housing towers on Areas B and C – is expected to be completed by the end of 2024.
The urban renewal company said earlier this year that it aimed for the project to start in the first half of this year.
This artist’s rendition released by Macau Urban Renewal Limited (MUR) in April shows the future six “home swap” housing towers on Plot P, which is located at the peninsula’s north-eastern coast.
